Umbrella Companies
IR35, the diminished benefits of running Limited Companies, the head-ache of paperwork, and accountancy fees are just a few of the reasons most contracting individuals have now decided that the best way to work is through umbrella companies. These companies can take responsibility for all payroll administration, tax and National Insurance considerations, and IR35 Compliance.
An umbrella company will invoice the client and collect payment from agencies if necessary, and run the payroll. The contracting individual then simply receives a payslip with all tax and National Insurance considerations met on their behalf.
Alternet Ltd takes this a stage further and provides a complete employee payroll management and financial package for contracting individuals. They provide you with financial benefits such as company pension, income protection and private medical insurance. Alternet also has a generous Inland Revenue approved Dispensations and Expense Policy, meaning that you can actually increase your net earnings, in many cases without the requirement to collect all receipts.
This allows individuals to continue to enjoy the benefits of contracting without the head-aches of IR35, Limited Companies administration and Accounts.